JOE BIDEN DESTROYS THE ECONOMY AS FAST AS HE DID THE BORDER AND AMERICA'S MIDDLE CLASS - $100 of Goods and Services Now Costs $119 After Years of Bidenomics

 

$100 of Goods and Services Now Costs $119 After Years of Bidenomics

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WENDELL HUSEBØ

29 Nov 202331

3:03

The goods and services American workers could afford with $100 in 2020 now cost $119.27, a recent Bloomberg report found.

The increased prices will likely impact the 2024 election results since they come after President Joe Biden implemented his economic policy of so-called “Bidenomics.”

Over half of voters in key swing states said grocery prices are the top way inflation has impacted their budget, according to a Bloomberg News/Morning Consult survey.

Bloomberg reported the goods and services price increases:

• Ground beef costs $5.23 on average, up from $3.89 in January 2020.
• Coffee is up some $2 a pound. Fruits and vegetables are about 14 percent higher.
• Electric bills spiked 25 percent since January 2020.
• Natural gas is up 29 percent since January 2020.
• Car insurance is up 33 percent since 2020.
• Hotel prices are up 15 percent since 2020.
• Grocery and electricity prices are both up 25 percent since January 2020.
• Used car prices have climbed 35 percent since 2020.
• Auto insurance is up 33 percent, and rents are up roughly 20 percent since 2020.

Inflation fell from the four-decade highs hit in 2022, but prices are still rising much faster than the Federal Reserve’s two percent target. The Fed estimates inflation will not fall back down to normal levels until 2025.

RELATED — Axelrod: The Pro-Biden Spin Is Wrong; People Have Poor Views of Bidenomics Because Food, Gas Prices Are “Still High”

Biden recently blamed — without evidence — inflation on “price gouging” by businesses. In a speech on Monday, Biden also confused the decline in the rate of inflation, which means the pace of price increases has slowed with prices actually declining to their pre-Biden administration levels, a prospect economists say is extremely unlikely.

“The reality is setting in for consumers that prices rarely go down, especially not in the aggregate. And so really the best they can hope for is prices leveling off and — at the very least — growing at a slower rate,” Wells Fargo & Co. Senior Economist Sarah House told Bloomberg. “Hopefully they level off and give a chance for incomes to continue to grow.”

“It’s a huge slap in the face and I’m surprised that some people are saying inflation’s coming down,” Ryan Essenburg, who lives in California’s Bay Area, told the outlet. “It’s hard. You go get your bill and it’s like, ‘What’s happening here?’”

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Follow Wendell Husebø on “X” @WendellHusebø. He is the author of Politics of Slave Morality.

Biden’s Economic Approval Rating Tumbles Down Near All-Time Low

Photo by BRENDAN SMIALOWSKI/AFP via Getty Images

JOHN CARNEY

29 Nov 202362

2:23

President Biden’s campaign to convince Americans to admire his management of the economy has flopped.

The public’s approval rating of the job Biden has done on the economy fell to 32 percent in the most recent poll by Gallup, close to the low of 31 percent hit last year.

This marks a significant reversal from the August poll, which showed Biden’s economic approval rating had climbed to 38 percent.

Biden has been using the word “Bidenomics” to tout what he claims are his administration’s accomplishments. So far, however, the message has not garnered support among Americans.

The poll was taken between November 1 and November 21. During that period, government data showed that the consumer price index did not rise month-to-month in October and was up just 3.2 percent for the year, nearly matching June’s 3.1 percent increase—the lowest rate of inflation since April 2021.

This suggests that even falling inflation has not improved the public’s view that Biden is mismanaging the U.S. economy.

Women are slightly more approving than men when it comes to Biden on the economy, registering a 33 approval rating vs. 31 percent for men.

Younger voters are far less approving than older voters. Among 18 to 34 year olds, Biden’s economic approval rating is just 28 percent. Among 35 to 54 year olds, it is 26 percent. Older Americans give Biden a 38 percent approval rating.

While Democrats give Biden relatively high levels of approval on the economy, at 72 percent, Biden is weak among independents, with an approval rating of just 24 percent. Just three percent of Republicans approve of Bidenomics.

There’s also a wealth gap in approval that undermines Biden’s claim that he is working to grow the economy “from the bottom up.” Among Americans earning more than $100,000 a year, Biden gets a 38 percent approval rating. Among those earning $50,000 to $100,000, he gets 30 percent approval. Among those with lower incomes, Biden’s economic approval share is just 26 percent.

LYING GAMER LAWYER JOE BIDEN HAS LONG THOUGH EVERYONE IS STUPID BUT HIM.

 

Biden White House Blames Economic Issues on the Trump Administration

Evan Vucci/AP

HANNAH BLEAU KNUDSEN

28 Nov 202313

2:56

The Biden administration on Monday blamed current economic issues on the Trump administration, asserting that the Biden administration has been busying itself with fixing a “problem that we saw that the last administration left us.”

“But why do you think it is that when you say the economy is improving, and President Biden says the economy is improving, that a majority of Americans outside of this building are not buying it?” Fox News’s Peter Doocy asked White House press secretary Karine Jean-Pierre.

“So here’s the thing. When we walked into this administration, the economy was in a tailspin,” Jean-Pierre began before proceeding to blame what Americans view as a distressing economic climate on the Trump administration, which saw the fastest-growing economy in history.

“The U.S. economy grew at 33.1% in the third quarter of 2020, a record pace,” Breitbart News reported in October 2020, outlining some of the Trump administration’s greatest achievements. “The economy bounced back because Trump laid the foundation for growth with tax cuts, deregulation, and an emphasis on jobs.”

However, that is irrelevant to Jean-Pierre.

“That is the fact because of the last administration, because of the Trump administration, because of how they dealt with COVID and the pandemic,” she said. “Because they didn’t have a comprehensive plan.”

“The president came in, he passed the American Rescue Plan, which was able to get the economy back on its feet. … Small businesses were able to open up, schools were able to open up, and we understand what Americans have been feeling over the last two, three years,” she continued.

“It’s going to take some time. We get that it’s going to take some time, but it does not take away how we have seen the economy getting back on his feet,” she said, essentially failing to answer Doocy’s question on why Americans are not buying the Biden administration’s claims.

RELATED — Yellen: People’s View of Economy Has ‘Disconnect’ with How Economy’s Doing, People Positive About Personal Finances

“We actually had to fix the problem that we saw that the last administration left us,” Jean-Pierre added.

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The Biden White House’s claim comes as Americans suffered record-high inflation — and gas prices — under Biden’s presidency.

RELATED — Axelrod: The Pro-Biden Spin Is Wrong, People Have Poor Views of Bidenomics Because Food, Gas Prices Are ‘Still High’

A recent McLaughin & Associates survey found that 84 percent of Americans say they have been affected by inflation, and of those, 46 percent said they are actively “struggling.” Further, half say that Bidenomics has been bad “for the economy, inflation and the cost of living.”